Waiting for the iPhone X?

The latest dour data came from AT&T Inc. late Wednesday. As part of an early disclosure of selected third-quarter financials, the company said the number of its mobile subscribers that had swapped out old smartphones for newer models fell by 900,000 from the third quarter of 2016.

The quarter included about a week of U.S. sales for Apple’s iPhone 8 models, one of two new smartphone lines the company debuted last month. If the iPhone 8 had been a hit out of the gate, then I would have expected AT&T’s upgrade number might at least have fallen less dramatically.

While it is interesting that the upgrade numbers from AT&T dropped, I wouldn’t exactly be concerned. The numbers just include only a week of iPhone 8 sales. And more than likely, a large number of potential buyers are waiting to purchase the iPhone X when preorders start later this month.

The report also notes that the number of wireless subscribers upgrading their device is also on the decline.